Kennedy Capital’s investment approach is extraordinarily labor intensive. Our team consists of six Portfolio Managers, one Director of Research, thirteen Research Analysts, two Assistant Portfolio Managers (one of whom also serves as an Analyst) and three full-time Traders. As of September 30th, 2011, we managed $3.1 billion in assets for our clients.

Our experienced team of twenty-four investment professionals utilizes our extensive internal resources, advanced technological infrastructure and proven investment process to achieve our goal of delivering superior risk-adjusted returns for our clients.

Randall Kirkland

Randall Kirkland, CFA, is President and CEO, and serves as Chairman of the Board of Directors. He is also responsible for directing the business affairs of the firm as well as coordinating KCM's client service initiatives. Prior to joining Kennedy Capital Management, he served as a Senior Consultant with Asset Consulting Group in St. Louis, and worked with large institutional accounts for 13 years. Prior to his consulting career, Mr. Kirkland was involved in institutional investment management for six years. Mr. Kirkland is past President of the CFA Society of St. Louis. He received his BA summa cum laude from the University of North Texas and his MBA from Saint Louis University.

Richard Sinise

Richard Sinise, an Executive Vice President, is the firm’s Chief Portfolio Manager, and is the Portfolio Manager of the Extended Small Cap portfolio. Dick has over 30 years investment experience, co-founding KCM in 1980 with Gerald Kennedy. Dick is largely responsible for the development of the firm’s investment philosophy and process. Throughout our history, Dick has been instrumental in helping to guide and grow the firm, and he has mentored all of the firm’s other Portfolio Managers. Prior to joining Kennedy Capital, Dick was a chemical engineer at Monsanto Chemical Company in St. Louis, MO. Mr. Sinise received a BS in Chemical Engineering from the University of Illinois.

Frank Latuda

Frank Latuda, JR., CFA, a Vice President, Director, and the Chief Investment Officer (CIO), is Portfolio Manager (PM) of the Small Cap Value I, SMID Cap Value, Mid Cap Value, and All Cap Value portfolios. As CIO, Frank also serves as the Chairman of the Investment Policy Committee.  Frank joined Kennedy Capital as an equity analyst in 1997 and served as Director of Research from 1998 until 2000.  He has been a PM since October of 2000 when he took over the Small Cap Value I strategy. Prior to joining Kennedy Capital, he was an analyst with Burns, Pauli, Mahoney Company.  Mr. Latuda earned a BS in Electrical Engineering from the University of Notre Dame, as well as an MS in Electrical Engineering and an MBA from the University of Illinois.

Michael Bertz

Michael Bertz, Ph.D., P.E., CFA, is Director of Research.  Mr. Bertz is primarily responsible for the coordination and direction of internal research operations.  Prior to joining KCM in 2006, he was a senior research analyst at WR Hambrecht & Co in San Francisco, California for two years.  Michael has also held previous roles as an analyst at Morgan Keegan & Company, researcher at Georgia Tech, and structural engineer at KPFF Consulting Engineers.  Michael received a Ph.D. in Structural Engineering from the Georgia Institute of Technology in 1998, following a Masters in 1994.  He has also earned a B.E.D. in Architecture and a B.S. in Physics from Miami University in Oxford, Ohio.

Stephen Mace

Stephen Mace, JD, CPA, CFA, is a Vice President and the Chief Operating Officer. Prior to joining Kennedy Capital, Mr. Mace co- founded Centurion Alliance, Inc. in 2000 and served as a Managing Director and its first Chief Compliance Officer. Before that, he was a Vice President with the Franklin Templeton Private Client Group. Mr. Mace received his BA summa cum laude from William Jewell College and his Juris Doctor degree from the University of Missouri-Columbia School of Law.

Richard Oliver

Richard Oliver, a Vice President and the Chief Financial Officer, also serves as the Corporate Secretary. Mr. Oliver is responsible for accounting controls, the preparation of financial reports, and working with outside accountants in the audit and tax areas. Mr. Oliver oversees functions involving budgeting and payroll, as well as the 401(k) plan and other employee benefits. He was formerly a college-level finance, accounting, and marketing instructor. Mr. Oliver received a BS in Business Administration and an MS in Finance from Saint Louis University.

Chuck Bryant

Chuck Bryant is a Managing Director of Sales and Marketing at Kennedy Capital Management, responsible for both institutional and non-institutional accounts. Previously, Chuck was an equity analyst for KCM, following the food & beverage and restaurant sectors, as well as selected financial services companies. Before joining KCM, Chuck worked as an equity analyst at Pauli & Company and Fidelity National Financial. He holds a BS in Finance from Stetson University and an MBA from St. Louis University. Prior to college, Chuck served in the US Army's 3rd Ranger Battalion.  He has also passed the Uniform Investment Advisor Law examination.

Richard Hibbs

Richard Hibbs is a Managing Director of Sales and Marketing at Kennedy Capital Management, responsible for both institutional and non-institutional accounts. Dick has more than 30 years of experience in investment consulting, institutional sales/marketing, and client service. Previously, he spent 8 years with Principal Global Investors as an executive director and head of institutional sales. He also spent 14 years with St. Louis-based Boatmen’s Trust Company where he served as senior vice president and national director of pension and institutional sales/marketing, and client service. Dick began his career with A.G. Becker. His responsibilities included investment consulting, product development, and production management. He received a bachelor’s degree from Governors State University in Illinois and participated in graduate programs at Columbia University in New York and Washington University in St. Louis. Dick is an associate member of the CFA Institute. He has also passed the Uniform Investment Advisor Law examination.

Marilyn Lammert

Marilyn Lammert, CFP®, a Vice President and the Chief Compliance Officer, is responsible for the oversight and administration of compliance policies and procedures for KCM. Prior to joining the firm, she was a Vice President and Compliance Manager with U.S. Bancorp Investments, Inc. Ms. Lammert received a BA in Economics from the University of Illinois at Springfield and has also passed the Uniform Investment Adviser Law , General Securities Representative, General Securities Principal, Municipal Securities Principal, Registered Options Principal, and Uniform Securities Agent State Law examinations.

	Portfolio Managers:
Frank Latuda Jr., CFA	-Small Cap Value I , Mid Cap Value,
(Chief Investment Officer)	All Cap Value, SMID Value
Richard Sinise	-Extended Small Cap
(Chief Portfolio Manager)
Don Cobin, CFA	-Small Cap Core
Timothy Hasara	-Micro Cap
Joe Kinnison, CFA	-Small Cap Growth, Mid Growth, SMID Growth
Terry Raterman, CPA, CFA	-Small Cap Select, Small Cap Select (SRI)
Gary Kauppila, CFA	-Assistant PM to Mr. Latuda
Christian McDonald, CFA	-Assistant PM to Mr. Cobin

	Research:
Michael Bertz, Ph.D., CFA	-Director of Research
Emily D’Agostino	-Financials, Utilities
Douglas Fisher	-Health Care
Brian Hagler	-Financials, Energy
Christopher Jersan, CFA	-Consumer Discretionary, Consumer Staples, Transportation
Thomas Leritz, CFA	-Materials, Special Situations, Metals, Office Equipment & Services
Sean Matlock	-Consumer Services, Automotive
Christian McDonald, CFA	-Industrials: (Aerospace/Defense/Machinery)
Sean McMahon	-Health Care
John Meza	-Information Technology, Telecom Services
Alex Mosman	-Information Technology (Software)
Charles Place	-Financials (REITs)
Stanislav Timofeyev, CFA	-Generalist, Quant. Research, Research Systems
Richard Todaro, CFA	-Financials (Insurance, Asset Management)

Terms: Bus. - Business, I.T. - Information Technology, Quant. - Quantitative, Svcs.- Services, Telecom - Telecommunications

Although the statements of fact and data in this report have been obtained from, and are based upon, sources that the Firm believes to be reliable, we do not guarantee their accuracy, and any such information may be incomplete or condensed. All opinions included in this report constitute the Firm's judgment as of the date of this report and are subject to change without notice. This report is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. Past performance is not a guarantee of future results.